The purpose of this white paper is to discuss the benefits of a modern program management office (PMO) and T Exponents’ approach to establishing a PMO. We discuss the following key benefits: 1) Increased strategic alignment (between business and program); 2) Enhanced stakeholder communication; 3) Improved cost and budget management (forecast versus actuals); 4) Better organizational performance; 5) Higher likelihood of success of program or project; 6) Improved probability of on-time program delivery.